Chạy đua lãi suất ngân hàng gây hệ lụy đến nền kinh tế

•,

ILL lie n da n doan h nghie p

li-: • - IpSi t

• •'• A':'-'/ £>

mm)

Tran lai suat huy dong la 14%/nam nhung thuc te

Cha y du a la i sua t nga n han g

G a y h e lu y de n ne n kin h t e

^NguyH n Kien

Tra loi Tap chi Thue xoay

quanh "cuoc dua lai suat"

cua cac ngan hang thuong

mai (NHTM) hien nay, PGS. TS

Nguyln Thi Mui - Hieu truong

Truong Dao tao nhan luc

Vietinbank, thanh vien Hoi dong

Tu van chinh sach tien te quoc

gia, cho biet: Co ba yeu to' day lai

suat kinh doanh ciia cac NHTM

len cao, do la:

Tinh den thoi diem nay, lam

phat thang sau cao hon thang

truOc (thang 1: 1,74%; thang 2:

2,09%; thang 3: 2,17%; thang 4:

3,32%) da lam cho lam phat 4

thang diu nam 2011 len tdi

9,64%. Voi chi so' lam phat nhu

vay, cac NHTM khong di dang

huy ddng vdn vdi trin lai suat

14%;

Viec qui dinh trin lai suat huy

ddng tdi da la 14%/nam ddi vdi

tat ca cac NHTM, dang khiin

nhung NHTM nhd, chua tao dung

duoc uy tin va thuong hieu tren thi

trudng gap kho khan va de co vdn

hoat dong, ho buoc phai "lach"

dudi nhiiu hinh thiic, day lai suit

huy dpng len 15% - 16%, tham

chi 19%/nam. Dau vao nhu vay,

thi diu ra 21% din 25%/nam ddi

vdi tirng khoan vay l i diiu d i

hieu.

(3 Viet Nam, do ha ting tai

chinh han chi, chua cd co chi xep

hang tin nhiem hieu qua, nen giua

rui ro va lai suit chua cd quan he

chat che qua lai. Cac NHTM dat

gii huy dong cao, diiu nay khong

co nghia la ngudi gui tiin phai

chip nhan mtic rui ro ldn. Cac

NHTM khong dip Ung tdt cic yeu

ciu v i thanh khoan, van ludn

dupe NHNN dip ling va "ddi xit"

nhu cic NHTM hoat dong tdt.

Nhu vay, tren thi trudng lai

suit, cic NHTM nhd luon din dat

thi trudng. Vi the', vdi nhung dong

thai thi trudng lai suit nhu hien

nay, thi niim tin vao chinh sach

cua ngudi dan va DN se bi suy

giam, cang lam cho viec kiim chi

lam phat khd khan hon.

Vita qua, mdt so DN vay vdn

vdi lai suit 17-18%/nam da thuc

su khd khan, v i ro rang vdi lai

suat 19- 25% thi linh vuc san xuit

kinh doanh cang khd chip nhin.

Lai suit cho vay cang cao, cung

cd nghia la mdc dd rui ro cho cic

NHTM la khdng nhd.

Theo PGS.TS Nguyln Thi

Mui, thuc chit cua viec diy lai

suit I6n cao cua cac NHTM xuit

phit tir hai phia: V i phia nen kinh

t i , thuc chat nhu ciu tin dung rit

ldn. V i phia cac NHTM, ap luc

tang tdng tai san cung rat ldn, ap

luc cd trie dd'i vdi cic cd ddng; ip

luc co ciu lai np theo qui dinh cua

NHNN vao 30/6 niy ddi vdi du np

tin dung vio linh vuc phi sin xui't

phai xudng mUc 22%, cung nhu

mdt sd NHTM phai dap ling du

mUc vdn diiu le theo qui dinh vao

thdi han cudi nam. Vi the', thieu

vdn cung chi l i mdt trong sd

nhung ly do ke tren.

Danh gii v i mUc dd lpi va hai

trong cudc dua lai suit niy, PS. TS

Nguyin Thi Mui cho ring, trudc

hit, phii hiiu ring, thi trudng cd

ciu, it se cd cung dip ung, mac du

giai quyit ciu v i vdn khdng chi cd

yeu to lai suit. De han chi tang

12 | Thue Nha Ntfdc • so 20 (330) - KY 4/5/2011